One hundred percent affordable buildings will rise in the South Bronx. On April 20, 2018, construction began on two new buildings at La Central in the Bronx. The 1.2 million square-foot development is one of the largest mixed-income projects currently in development in the City. The buildings will be located at 556 and 600 Bergen Avenue.
Search Results for: Affordable Housing
Mayor Signs Legislation To Extend Rent-Stabilization Laws
Due to City’s low vacancy rate, rent stabilization laws have been extended. On March 27, 2018, Mayor Bill de Blasio signed legislation to extend rent regulation laws for the next three years. The laws will remain in effect until April 1, 2021. State rent stabilization laws continue to be effective when the vacancy rate is below 5%. The City’s vacancy rates are determined and measured by the Housing and Vacancy Survey, which is conducted every … <Read More>
421-a Benefits Suspended for Failure to Comply
Property owners face 421-a suspension for failure to submit Final Certificates of Eligibility. On March 9, 2018, Housing Preservation and Development Commissioner Maria Torres-Springer and Department of Finance Commissioner Jacques Jiha announced the suspension of 421-a benefits to more than 1,700 property owners. The decision to suspend benefits is part of the Housing Preservation and Development and Department of Finance’s initiative to ensure that properties comply with the 421-a application rules. Currently, there is a … <Read More>
State Senate To Provide Exception to Floor Area Ratio Cap for City Residential Buildings
A proposed State bill seeks to give City broad flexibility to increase floor area ratio in residential developments. The New York Senate has introduced bill S6760 by including language in their budget resolution that will amend the State’s Multiple Dwelling Law to provide an exception for the floor area ratio (FAR) cap. Currently, the law provides for a floor area ratio not to exceed 12.0 in New York City. The amendment will introduce language to … <Read More>
City Planning Hears Plans For New Development In Area Lacking Residential Space
New industrial modern loft building for Bronx area scarce with residential options. On March 14, 2018, the City Planning Commission held a hearing on the Willow Avenue Rezoning application. The applicant, Markland 745 LLC, seeks to develop a mixed-use, mostly residential building on Willow Avenue between East 133rd and East 134th Street in the Port Morris section of the Bronx. The property is currently occupied by a three-story commercial office building and a single-story warehouse. … <Read More>
Turn-of-the-Century Neo-Classical Bank’s Designation Supported by Ownership
Bank’s construction quickly followed opening of Williamsburg Bridge; grand Classical facade composed of limestone and granite communicated stability and civic pride. Landmarks held a hearing on the potential designation of the Dime Savings Bank of Williamsburgh on February 6, 2018. The bank stands at 209 Havemeyer Street in Brooklyn’s Williamsburg neighborhood. The building was constructed in 1908 and designed by the firm of Helmle and Huberty. A 1925 addition continued the original design, and more … <Read More>